PepsiCo Names Johnson to Board in Settlement With Peltz
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PepsiCo Inc. elected Bill Johnson, a longtime food company executive and adviser to Trian Fund Management, to its board following the threat of a proxy fight by Trian’s Nelson Peltz.
Johnson, formerly chairman and chief executive officer of H.J. Heinz Co., was recommended by Trian and will be an independent director, PepsiCo said in a statement Friday. Separately, Trian named Johnson as a member of a three-man advisory partnership to assist in its investments.